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Facebook Demand Less Than Expected

As IPO nears, institutional investors said to be worried about the companys growth prospects.

By Serena Saitto, Jeffrey McCracken and Zijing Wu, Bloomberg | Updated on May 11, 2012

Facebook Inc.’s initial public offering has so far generated lower-than-expected demand from institutional investors who are concerned about the company’s growth prospects, people with knowledge of the matter said.

Some investors expressed reluctance after Facebook said on May 9 that advertising growth hasn’t kept pace with the increase in users, said the people, who asked not to be identified because the process is private. Facebook is also telling analysts that sales may not meet their most optimistic projections, two people said.

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